NIKE, Inc. (NYSE:NKE) Shares Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its stake in NIKE, Inc. by 121.6% in the first quarter, owning a total of 69,338 shares valued at approximately $4.4 million.
• Several institutional investors, including Brighton Jones LLC and Arrowstreet Capital Limited Partnership, significantly boosted their holdings in NIKE, with changes ranging from 388.5% to 7,238.7% during the fourth quarter.
• NIKE's chairman, Mark G. Parker, sold 110,000 shares in July, resulting in an 11.55% decrease in his position, while the company also announced a quarterly dividend of $0.40 per share.

XTX Topco Ltd lifted its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 121.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,338 shares of the footwear maker's stock after buying an additional 38,052 shares during the period. XTX Topco Ltd's holdings in NIKE were worth $4,402,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NKE. Wellington Management Group LLP grew its position in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC grew its position in NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after purchasing an additional 347,178 shares during the last quarter. Capital World Investors grew its position in NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares during the last quarter. Bank of New York Mellon Corp grew its position in NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock worth $1,332,331,000 after purchasing an additional 620,214 shares during the last quarter. Finally, Northern Trust Corp grew its position in NIKE by 8.8% during the 4th quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock worth $1,111,625,000 after purchasing an additional 1,183,641 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

NKE has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. Stifel Nicolaus reduced their target price on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Citigroup raised their target price on shares of NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. Berenberg Bank initiated coverage on shares of NIKE in a research note on Tuesday, April 15th. They issued a "hold" rating and a $58.00 target price for the company. Finally, Royal Bank Of Canada reduced their target price on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.22.

NIKE Trading Down 2.0%

Shares of NYSE NKE traded down $1.59 during midday trading on Wednesday, reaching $76.74. 14,581,237 shares of the stock were exchanged, compared to its average volume of 13,248,742. The company has a market capitalization of $113.34 billion, a P/E ratio of 35.53, a P/E/G ratio of 2.88 and a beta of 1.25. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $67.80 and a 200-day moving average price of $67.49.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 earnings per share. Equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. NIKE's payout ratio is 74.07%.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.